Shanxi Antai Group Co.,Ltd announced private placement of not more than 302,040,000 A shares for proceeds of not more than CNY 673,560,000 on March 16, 2023. The transaction will include participation from not more than 35 investors. The issuance price is not less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction was approved by the board of directors of the company at its 1st Meetings of 2023 of the Company?s 11th Directorate and Company?s Annual General Shareholders Meeting of 2022 held on May 15, 2023, and is subject to the approvals of the Shanghai Stock Exchange and the China Securities Regulatory Commission.